Indian low-grade iron ore fines export prices were seen stable this week. SteelMint’s assessment for fines (Fe 58/57%) this week is at around USD 56-58/MT, CFR China, stable against last week.
Few deals from Odisha based traders and miners were reported at USD 57-58/MT, CFR China this week. Sources reported to SteelMint, one of the major trader from Odisha concluded low-grade fines (Fe 58/57) deals at around USD 58/MT, CFR China during this week.
Market sources are anticipating low-grade iron ore fines export prices to remain range-bound in the near short term.
Spot iron ore prices weighed down W-o-W-: Chinese spot iron ore prices stands at USD 83.9/MT CFR China as on 24 Apr’20 against USD 85/MT CFR, China towards the end of last weekend. However, on a monthly basis index prices are down by USD 2/MT CFR China.
Iron ore stocks at Chinese ports decline further- As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports decreased to 117.95 MnT as on 23rd April as against at 118.55 MnT assessed a week ago.
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